The President of Tanzania Samia Suluhu Hassan made a four-day state visit to India in the second week of October, 2023. President Samia’s state visit produced 15 Memorandum of Understanding (MoUs) that were signed covering a wide range of areas of cooperation, including trade, investment, defense, security and healthcare.
One of the MoU, according to official data from the ministry of External affairs of India, was between the Jawaharlal Nehru Port Authority under the ministry of ports, shipping and waterways of the Republic of India and Tanzania Investment Center of Tanzania for setting up of an industrial Park in Tanzania.
Tanzania pledged to allocate 1,000 acres of land in the coast region for the establishment of an industrial park with manufacturing industries from India. The industrial park, which will be located in the coast region, is expected to involve about 200 Indian industries that produce pharmaceuticals, value-added products and agricultural mechanization equipment.
As a foreign investor you should however know that you can only own land in Tanzania for investment purpose. The process of owning land for investment purpose is regulated by the Tanzania Investment Center who issues a certificate of incentives. The certificate of incentives comes with a number of attractive incentives. Also foreign investors can operate on the land related project through the Export Processing Zone.
